FERNBACH opened its representative office in Jakarta

13.03.2018

Managing Director APAC, Dr. Denis Diop had the great honour and pleasure to celebrate the official office opening ceremony of FERNBACH's new representative office in Jakarta which was conducted under the auspices of The Ambassador of the Grand-Duchy of Luxembourg to the Republic of Indonesia, H.E. Mr. Robert Lauer. Together with more than 25 guests from partners, customers and friends this milestone was celebrated.

As most know, regulatory requirements are subject to change. Navigating this challenging environment can often be confusing with all the options on offer. PSAK 71 (IFRS 9), which will take effect in Indonesia in 2020, is going to become the new accounting standard used for financial instruments there. FERNBACH was the first company which implemented an IFRS solution in Europe already in 2001. Hence, it goes almost without saying that the company is keen to introduce local Indonesian banks to its capabilties and state-of-the-art FlexFinance IFRS 9 solution as the new accounting standard will have a huge impact on many Indonesian banks. However, FERNBACH has already implemented IFRS 9 solutions in Europe, Africa and the Middle East which went successfully live at the beginning of 2018.

FERNBACH, which was founded in 1986, has been successfully doing business in Indonesia for more than 10 years now. However, services were always either provided on-site at customers and projects manned predominantely by our Luxembourgish or Singaporean offices.

To cater for the needs of our clients more effectively and to provide effective information about PSAK 71 and FERNBACH's offering the company decided to increase its presence in Indonesia with a new office.

But as in football so in business: when it comes to serving a huge market: You'll Never Walk Alone as supporters of the football club FC Liverpool know. Therefore, Dr. Diop took the opening ceremony as an opportunity to thank FERNBACH's dedicated and committed partners who have been very supportive in the past in getting FERNBACH where the company is today. To this end he in particular praised PT BDO Konsultan and its Director Pak Yudhi Prasetyo, Bright-Consulting and its Director Bu Suanning and last but not least FERNBACH's reseller for many years TelkomSigma and its Product Manager Irwan Suwartana.

His Excellency Mr Robert Lauer (right) the Ambassador of the Grand-Duchy of Luxembourg to the Republic of Indonesia and our Managing Director APAC Dr. Denis Diop (left).